Morgantown, WV · Member since 2020 · 19 posts · 6 votes
Hello everyone! I have recently made my first official step towards my REI journey. Found a house in Morgantown WV that made cents, cash flowed properly, the whole nine yards. Unfortunately due to an unsatisfactory property disclosure statement, I had decided to terminate the contract. Which brings me back to the drawing board.
I want to stay decently close to Morgantown, so I can be hands on with my first investment. With how competitive the market is currently, I've decided there isn't enough property available in Morgantown to keep my search so strict in location.
Anyone on here invest in WV, preferably somewhat close to Morgantown? Any suggestions on areas/towns/zip codes that you have been successful in? Any advice or recommendations would be helpful! Thank you.
Rental Property Investor · Morgantown, WV · Member since 2016 · 235 posts · 135 votes
5y
Hi Jaime,
I am an investor in the city (30+ units) and I am actually part of the team that started Red Brick Property Management.
You have really asked a loaded question! Lol, First, would you like to be investing in college rentals or none college rentals? Both have their advantages and disadvantages but that will at least narrow your search down to a good enough point where I can recommend locations.
Morgantown, WV · Member since 2020 · 19 posts · 6 votes
5y
@David Flores Hey David! Yeah I guess it is a loaded question lol, and this answer probably won't help much. At this point, I am open to both college rentals and non-college rentals. The property I had under contract was definitely a college rental with numbers that made sense...until a property disclosure statement put my cash flow at risk. If the numbers make sense, and I like the deal, then I will explore the opportunity.
I guess at this point I am just looking for any recommendations outside of Morgantown, but still in close proximity. What has been your experience in Masontown/Uniontown/Fairmont areas (if any)?
@David Flores Hey David! Yeah I guess it is a loaded question lol, and this answer probably won't help much. At this point, I am open to both college rentals and non-college rentals. The property I had under contract was definitely a college rental with numbers that made sense...until a property disclosure statement put my cash flow at risk. If the numbers make sense, and I like the deal, then I will explore the opportunity.
I guess at this point I am just looking for any recommendations outside of Morgantown, but still in close proximity. What has been your experience in Masontown/Uniontown/Fairmont areas (if any)?
What was in the disclosure that made you change your mind? I only ask because something that might sound scary to someone starting out might actually be pretty typical in grand scheme of things.